Securities code: Jiangsu Nonghua Intelligent Agriculture Technology Co.Ltd(000816) securities abbreviation: Jiangsu Nonghua Intelligent Agriculture Technology Co.Ltd(000816) Announcement No.: 2022008 Jiangsu Nonghua Intelligent Agriculture Technology Co.Ltd(000816)
Announcement on cash management with self owned funds in 2022
The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete without false records, misleading statements or major omissions.
On March 25, 2022, Jiangsu Nonghua Intelligent Agriculture Technology Co.Ltd(000816) (hereinafter referred to as “the company” or “the company”) held the 25th meeting of the 8th board of directors, deliberated and adopted the proposal on cash management with self owned funds in 2022. The above matters need to be submitted to the general meeting of shareholders of the company for deliberation and approval. The relevant matters are hereby announced as follows:
1、 Investment overview
1. Investment purpose: to improve the efficiency of the company’s use of funds. On the premise of ensuring the capital demand of daily operation and effectively controlling investment risks, the company will use temporarily idle self owned funds for cash management and increase investment income. The purchased financial products can also be pledged as the deposit for the company to issue bank acceptance bills.
2. Investment amount: according to the current use of funds and considering the liquidity demand, the company and its subsidiaries intend to use their own funds with a maximum balance of no more than 800 million yuan to purchase financial products from financial institutions in 2022. The limit is the maximum balance of the period (including the relevant amount of reinvestment of the income of the above investment), which can be used circularly and continuously. 3. Investment method: the company will choose an appropriate time according to the market situation and use its temporarily idle own funds to purchase financial products with medium risk rating and below and a term of no more than one year, including but not limited to financial products issued by commercial banks, structured deposits and other investment varieties.
Propose to authorize the chairman of the company / subsidiary to exercise the investment decision-making power within the approved limit and sign relevant contracts, and the relevant departments of the company are responsible for the specific implementation.
4. Investment period: 12 months from the date of approval by the general meeting of shareholders.
5. Source of funds: the funds used by the company for cash management are its own idle funds.
2、 Review procedure
In accordance with the relevant provisions of Shenzhen Stock Exchange Stock Listing Rules, Shenzhen Stock Exchange listed companies self regulatory guidelines No. 1 – standardized operation of main board listed companies, Shenzhen Stock Exchange listed companies self regulatory guidelines No. 7 – transactions and related party transactions, and the company’s charter, this matter was deliberated and adopted at the 25th meeting of the eighth board of directors on March 25, 2022, The independent directors of the company have expressed their independent opinions on this matter.
This item does not involve related investment and needs to be submitted to the 2021 annual general meeting of shareholders of the company for deliberation.
3、 Investment risk analysis and risk control measures
(I) investment risk
1. Although the financial products to be invested by the company belong to low-risk investment varieties, the financial market is greatly affected by the macro-economy, and it is not excluded that the investment is affected by market fluctuations.
2. Operational risks of staff related to financial services.
(II) risk control measures
1. The company will strengthen the internal control and management of financial management business, strictly standardize the approval and implementation procedures, and effectively prevent investment risks in accordance with the guidelines for self discipline supervision of listed companies of Shenzhen Stock Exchange No. 1 – standardized operation of listed companies on the main board, the articles of association, entrusted financial management system and other relevant provisions.
2. When purchasing financial products, the company will screen, evaluate, analyze and demonstrate the investment products, and put forward the investment purchase demand of investment products on the premise of meeting the principles of measurable, evaluable and affordable risk. 3. The implementation Department of the company will timely track the progress and safety of funds, strengthen risk control and supervision, and ensure the safety of financial funds. If adverse factors are found or judged, corresponding measures shall be taken in time to control the investment risk to the greatest extent and ensure the safety of funds.
4. The supervision and Audit Department of the company is the supervision department of financial management business, which is responsible for supervising the investment approval, operation, fund use, profit and loss, and supervising the accounting treatment of the financial department.
4、 Impact of investment on the company
On the premise of ensuring that it does not affect the company’s liquidity and operating capital demand, using temporarily idle self owned funds to purchase financial products will not affect the development of the company’s business, but also improve the efficiency and income of capital use and obtain a good return on investment for the company.
5、 Opinions of independent directors
On the premise of ensuring the daily operation capital demand and effectively controlling the investment risk, the company reasonably uses the temporarily idle self owned funds to carry out cash management, and provides financial products with controllable risk, good liquidity and high safety to financial institutions, which conforms to the relevant provisions of national laws and regulations and the articles of association, which is conducive to improving the use efficiency of the company’s self owned funds and increasing the income of cash assets. The company has established a relatively perfect internal control system and system, which can effectively control investment risks and ensure capital safety. This investment does not harm the interests of shareholders of the company.
In view of this, we agree that the company will use its own funds to carry out cash management in 2022.
6、 Documents for future reference
1. Resolutions of the 25th meeting of the 8th board of directors of the company;
2. Independent opinions of independent directors on matters related to the 25th meeting of the eighth board of directors.
Jiangsu Nonghua Intelligent Agriculture Technology Co.Ltd(000816) board of directors March 29, 2002
